(b) Suppose that the open sector has a demand for $1780 worth of housing, $3690 worth of food, and $5630 worth of utilities. Use row reduction to find a production vector that will meet this demand exactly. The production vector, ? ?
Q: Which of the following statements is false? a) Trend GDP shows what the path of potential GDP would ...
A: Trend GDP The predicted pace of increase of a country's productive capacity is known as trend GDP.Th...
Q: 1. What are the basic functioning principles of WTO that have an impact on the problems of standardi...
A: To promote economic growth and development, the World Trade Organization (WTO) provides a platform f...
Q: Tropical Republic produces only bananas and coconuts. In 2016 The base year is 2016, and the tables ...
A: Nominal GDP measures the market value of final goods and services at current prices produced during ...
Q: Which of the following is NOT a tool of monetary policy? Select one: a. Discount rate b. Reserve req...
A: Monetary policy is used to change the money supply in the economy.
Q: Average Verage Fixed Average Variable Fixed Variable Total Total Margin Output Costs 10 Costs 60 Cos...
A: in the given question only output and total cost are only given, for the remaining parts following f...
Q: It Canadian price level increases all etse equal, that represents a (Do yourself a favourt graph it,...
A: The curve that depicts various quantities of goods and services being demanded by individuals at var...
Q: What is the current International Monetary System called and how was it established?
A: An international monetary system is a set of internationally concurred rules, shows, and supporting ...
Q: You are a newspaper publisher. You are in the middle of a one-year rental contract for your factory ...
A: An average fixed cost (AFC) defines how much it expenses to fabricate one unit. It helps measure the...
Q: 51. Permanent Income and winning the lottery. Remember to explain the reasoning behind your answers....
A: a. Because of consumption smoothing the consumption will be split across the periods in such a way t...
Q: A firm in a perfectly competitive industry is currently producing 1,400 units per day at a total cos...
A: A perfect market, also known as an atomistic market in economics, is defined by several idealising c...
Q: As the price of high-definition televisions has fallen over the last two years, more high- definitio...
A: Here, it is given that there is a decrease in the price of high-definition television and at the sam...
Q: Describe the concept of demographic transition
A: Demographic Transition takes into account two characteristics of demographics i.e. Birth rates and d...
Q: Why are environmental regulations sometimes considered to be unfair barriers to trade?
A: Trade barriers refer to the restrictions imposed by the governments of various countries on the inte...
Q: Q2 In each of the following cases, determine the effect of each case on GDP and its components in UA...
A: We know that Aggregate Demand is the sum total of consumption expenditure, investment expenditure, g...
Q: In the specific factor model, with free trade the relative price of imported goods cannot be _____...
A: The specific Factor model was originally discussed by Jacob Viner. The name of the model gives its d...
Q: An economist sees the weekly job finding rate and the monthly job losing rate (which is 0,1 and 0,15...
A: The unemployed population is described by those people who are willing to work and are looking to wo...
Q: What is the likelihood of government-issued bonds or treasury securities defaulting? * A. Can't say...
A: The answer is - D. Zero
Q: Which of the following best describes an expansionary monetary policy? * a. less spending b. decrea...
A: The best way to describe an expansionary monetary policy is the lower interest rate. Lower interest...
Q: Joy Lima manages a Sweet Chocolate Bar Store. She charges P100 per bar for her chocolate. You, the e...
A: Here, it is given that Joy Lima charges P100 per bar of chocolate and has a price elasticity of dema...
Q: You are the buyer for The Shoe Outlet. You are looking for a line of men’s shoes to retail for $79.9...
A: Let selling price =100 then, Profit =45 So, Cost = selling price - profit =100-45 =55
Q: Quantity demanded is Select an answer and submit. For keyboard navigation, use the up/down arrow key...
A: The curve that depicts various quantities of goods and services being demanded by consumers is known...
Q: 1. Assume a market with only two individuals, A and B. The demand of individual A is Q = 10 - P, and...
A: A pure public good is non-rivalrous and non-excludable in nature. Market demand for a pure public go...
Q: Question 9 Which of the following statements is true? 1. If output per head is proportional to the n...
A: Answer: If output per head is proportional to the number of ideas had in the past then an increase i...
Q: Which of the following is an example of diffuse reciprocity? Group of answer choices (pick one) a....
A: Diffuse reciprocity Diffuse reciprocity is a mindset, a readiness to contribute without expecting a ...
Q: In Ecoland, producers make both televisions and clocks. At current production levels, the marginal c...
A: (a) Given that, marginal cost (clock) = $50. marginal cost (television)= $150. By bringing...
Q: You are choosing between two goods, X and Y, and your marginal utility from each is as shown below. ...
A: Dear student, you have asked multiple sub-part questions in a single post. In such a case, I will be...
Q: An increase in the standard of living of citizens of a country can be best measured by the growth ra...
A: Per capita nominal GDP:- Nominal GDP per capita=Nominal GDPPopulation Nom...
Q: plant has sufficient capacity to manufacture any combination of four different products (A, B, C, D)...
A: Introduction Marginal cost of machine 1 = variable cost + material cost = 2 + 4 = $6 Total MC of ma...
Q: 21.1 Table 21.1 shows the total area, sun hours per day and energy consumption of five different cou...
A: Hi! Thank you for the question, As per the honor code, we are allowed to answer three sub-parts at a...
Q: Refer to the graph shown. Assume the market is initially in equilibrium at point b in the graph but ...
A: The welfare loss due to tax is also known as the deadweight loss and it is equal to the difference b...
Q: For the assessor, the occurs when a taxpayer comes into contact with any aspect of the asse office a...
A: Note: We will answer the first question since the exact one was not specified. Please submit a A mo...
Q: what are the benefits of economic growth to a country
A: Economic growth refers to the production of economic goods and services in the economy compared with...
Q: Suppose a monopolist faces two groups of consumers. Group 1 has a demand given by P1=50-2Q1 and MR1=...
A: Being a single seller in the market, the monopoly can charge price greater than marginal cost to max...
Q: Refer to the graph shown. Assume the market is initially in equilibrium at point b in the graph but ...
A: As the supply curve shifts upward the equilibrium price now changes.
Q: According to the National Baseball Hall of Fame, at the end of 1979, the pitcher Nolan Ryan signed w...
A: Consumer Price Index The Consumer Price Index is an instrument by which we can measure the inflation...
Q: Find the value of B. Quantity Total Cost Fixed Cost Variable Cost Average Total Cost Average Fixed C...
A: "Average fixed cost measures the fixed cost of production per unit of output."
Q: A hardware retailer found that, during the months of May, June and July, sales of patio furniture in...
A: At the marketplace, when a firm or policymakers observe the change in a variable due to change in an...
Q: Give an example of a positive impact that an international Firm can have on a foreign country's econ...
A: International firm refers to a company which has operations in more than one country. The head quart...
Q: Suppose that K(t+5)/N > K(t+3)/N, where K(t+3) is capital in period t+3 and K(t+5) is capital in per...
A: If there is more amount of savings is taking place then there will be more opportunities will be ava...
Q: The relationship between the price of the bond and the market rate of interest rate? * a. Inversely...
A: Par value of a bond is the amount you will get at the time of maturity of the bond The market price ...
Q: Which of the following is the preferable interest rate for investing your money? (i) 12% Compounded ...
A: Given: Interest rate (r)=12%
Q: The price p (in dollars) and the quantity q sold of a certain product obey the demand equation q − ...
A: Revenue is the product of price and quantity. To get revenue function, first derive the inverse dema...
Q: Question 6 Deadweight loss from a tax results in: Weight loss from a recession. Loss of producer sur...
A: The deadweight loss is created when market forces do not work efficiently and there is either underp...
Q: 4) Suppose that we have the following data for Amazon operations in the US: Sales $469.8B $365.6B Co...
A: GDP of country by the production approach is calculated by with the help of Production and Intermedi...
Q: Q TR TC MR MC S0 $10 1 $20 $15 $20 $5 $40 $25 $20 $10 3 $60 $40 $20 $15 4 $80 $60 $20 $20 5. $100 $8...
A: The producer will produce in order to maximise its profits. No producer will limit this goal. And th...
Q: Problem No 1. Juan Dela Cruz was offered three loan proposal 1. P100,000 at 10% per year simple inte...
A: Here, three loan proposal are given tk Juan Dela Cruz based on different maturity period and interes...
Q: STOP UK ARMS EXPORT TO SAUDI UAE DICTATORSHIPS Source: Shutterstock In Great Britain, protesters obj...
A: a. The conflict in Yemen has brought to light the United Kingdom's arms sales to Saudi Arabia. Durin...
Q: Global outsourcing, is it inevitable like new technology? The robot with artificial intelligence cou...
A: Answer -
Q: Joon's Marshallian demand function for good X and Y is given by: X* Suppose that Px=3, a = 0.8, ß = ...
A: "Income elasticity of demand of good X measures the change in demand for good X when income changes....
Q: Directions: Solve the following problems. Interpret the results. 1. Christine sells banana banana tu...
A: Given At price Php 4.00, total sell is 50 pcs and at price Php 6.00, sell is 40 pieces. Formula fo...
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 7 images
- Egypt has a system where each poor person receives a fixed amount of bread – 5 pita loaves of bread / week. After Fred and Farouq each receive their free government bread, Fred sells Farouq 1 loaf of bread in return for $0.50, which increases Fred’s consumption of the composite good by $0.50 and decreases Farouq’s consumption of the composite good by $0.50. What must be Fred and Farouq’s MRSs (bread relative to composite good) after they trade?Using the Heckscher-Ohlin model, if a nation can shift its factors of production from the production of one good to another it produces... A) A concave PPF B) A smooth upward sloping relative supply function C) An optimal mix of production (tangency of PPF with Py/Px) D) All of the aboveExplain three basic sources of deviations from PPP. Thanks.
- T/F/U. Tenure is an appointment awarded to assistant professors after 5 years of probationary hire used to prove their capabilities of research, teaching, and service.If an assistant professor receives tenure, research, teaching, and service activities decrease. In your answer, describe rational self-interest and incentives to explain your reasoning. T/F/U. A country can consume inside of its production possibilities frontier (PPF), but not outside of it. In addition to your explanation, draw a PPF to further support your answer. T/F/U. The price of a dozen eggs has increased from $1.99 to $6.99. The demand for this item decreases. In addition to your explanation, please draw a demand curve model to support your answer. T/F/U. The demand curve model is a function that shows the relationship between price and quantity supplied. T/F/U. Due to several remarkable events-the Russian-Ukraine War, train derailments, the pandemic, etc...the demand for doomsday gear bundles has increased.…Consider the possibility that government spending increases produc- tivity so that with lump sum taxes after an increase in government spending the original equilibrium level of consumption and leisure is still just affordable. (That is this point lies on the frontier of both the before and after PPFs. Be careful to make sure your drawing has this very unusual feature.) How will an increase in government spending affect consumption, hours worked, output and welfare?Consider a specific-factors model where two Countries, Denmark and Tanzania, use labor to produce cake (C) and helicopters (H). However, arable land (A) are a factor specific to cake, and jerrycans (J) are a factor specific to helicopters. Suppose that Tanzania has L = 100 workers, J = 40 jerrycans, and A = 1000 arable land. The production functions and marginal products of labor for cake and helicopters are: C = 4 x Lc0.5 x A0.5 MPLc = 2 x Lc-0.5 x A0.5 H = 4 x LH0.5 x J0.5 MPLH = 2 x LH-0.5 x J0.5 In Tanzania, the price of crystals is 20 and the price of hyperdrives is 200. In this case, the wage rate will be ________ and ________ workers will be employed in the cake industry and __________ workers will be employed in the helicopter industry.
- 20 Which of the following is a use of the production possibility curve (PPC) in macroeconomics? a. Private income of a company is calculated on the basis of PPC b. The company decides to produce product A or B c. The economy finds solution to basic economic problems d. The company decides the price of the product using PPC. Ricardian Model. Consider two countries: A and B. Labour is the only factor of production for goods X and Y. Consider the following matrix of unit labour requirements. X Y Labor Endowments Country A aLx = 8 aLy = 4 240 Country B aLx* = 6 aLy* = 2 120 Which country has an absolute advantage in producing good X? Good Y? Which country has comparative advantage in producing good X? What is the autarky relative price of good X for country A? For country B? Draw the world relative supply curve RS for good X. Label all the axes (relative price of good X on the vertical axis and world output of x relative to y on the horizontal axis) and the relevant points. Suppose that the world relative demand RD for good X is given by: (Px/Py) = 7 – 9 * ( ( Qx +Q*x) / (Qy + Q*y) ). With free trade: (i) What will be the equilibrium world relative price of good X be equal to? (ii) Calculate the equilibrium wage rate w in A relative to that…An economy depends on two basic products, wheat and oil. To produce 1 metric ton of wheat requires 0.23 metric tons of wheat and 0.32 metric tons of oil. Production of 1 metric ton of oil consumes 0.08 metric tons of wheat and 0.13 metric tons of oil. Find the production that will satisfy a demand for 500 metric tons of wheat and 870 metric tons of oil. The input-output matrix is Aequals left bracket Start 2 By 2 Matrix 1st Row 1st Column 0.23 2nd Column 0.08 2nd Row 1st Column 0.32 2nd Column 0.13 EndMatrix right bracket. [ ? ]metric tons of wheat is required to satisfy the demand.
- cost data:Assembly: Total cost of production = 400Earnings of High-Skilled Labor = 100Earnings of Low-Skilled Labor = 200Earnings of Capital = 100R&D: Total cost of production = 400Earnings of High-Skilled Labor = 175Earnings of Low-Skilled Labor = 125Earnings of Capital = 100A) In which factor is assembly intensive? In which factor is R&D intensive? Suppose that due to the opening of trade, the price of assembly falls by −20%, the price of R&Dremains unchanged, 0%, and capital’s share earnings remains constant. What has happened to the relative wage of high-skilled/low-skilled labor? Does this match the predictions of the offshoring model?Suppose China can produce two goods, cloth and food and has three factors of production labor (L), capital (K) and Land (T for terrain). Food is produced using land and labor while cloth is produced using capital and labor, hence, labor is a mobile factor. Keeping in mind the Specific Factors Model, answer the following questions a) What are the production functions for cloth and food? b) Write down the wage equations for each sector and the slope of the production possibility frontier. c) Drive the production possibility frontier for China [hint 4 quarter diagram]Q. The country A has an endowment (total supply) of 160 units of labor and 14 units of land, whereas country B has 40 units of labor and 6 units of land. Is country B labor or land abundant? If wheat is land-intensive and cloth is labor-intensive, what is the Heckscher-Ohlin prediction for the pattern of trade between country A and country B?